I am highly honoured to welcome you all to the first virtual Annual General Meeting (AGM) of NICArb, the first virtual AGM ever to be held by any Arbitration Institution in Nigeria. As we all know, times are changing and NICArb is always ready to move on with evolving trends, both in the field of Arbitration and Alternative Dispute Resolution and other areas of life.

The year 2019 was a great year for NICArb, as it consolidated on all the gains arising from its visibility, rebranding and advocacy efforts over the years and has maintained its position as the premier Arbitration Institution in Nigeria and Sub-Saharan Africa. Indeed, since I became the President of the Institute in 2007, NICArb recorded its greatest strides in 2019.

In the said year under review, NICArb had a record number of Twenty-seven (27) trainings (both regular and specialised). The Institute also held trainings in states/regions where it had never held any before such as Kano, Kaduna, Warri, Benin and Owerri. The Institute also strengthened its newer State branches in Kano/Kaduna, Edo, etc, including forming a lot of strategic partnerships with many private and public enterprises and I am sure that it will reap the benefits of these investments in the coming years. NICArb's finances also witnessed a great improvement as recorded in its 2019 Financial Statements.

More importantly, in 2019, NICArb clocked 40 years as an Arbitration/ADR Institute in Nigeria. To celebrate this epoch-making event, the Institute held a very befitting 40th Anniversary, Annual Arbitration Conference and Induction ceremony at the prestigious Eko Hotels and Suites, Victoria Island, Lagos on the 14th and 15th of November 2019.

The Arbitration conference had a record number of over Four Hundred and Fifty (450) people in attendance with International speakers from other parts of Africa, Europe and America. The conference was closed off with the Induction ceremony and 40th Anniversary dinner in which about Seven Hundred and Sixty-Six (763) high ranking professionals from various spheres were inducted as members of the Institute. This was in addition to two mini inductions earlier held by the Institute at the Afe Babalola University (ABUAD) and University of Nigeria, Enugu Campus (UNEC) in which a total number of 165 people were also inducted as members, under the Student Membership Category. All in all, almost one thousand persons joined as members in 2019, a very impressive feat for NICArb.

To emphasise, 2019 was a great year for NICArb and by the grace of God, we will not rest on our oars. We shall continue to strive for new and better ways to make the Institute even greater. We are charting new courses, treading on hitherto untreaded areas, breaking existing records and setting new standards for other Arbitration Institutes in Nigeria and indeed, all over Africa.

I wish to specially register my appreciation to my able lieutenants - members of the Governing Council, and in particular, our indefatigable, trend-setting, trail-blazing, Registrar/CEO, Mrs Shola Oshodi-John and her team of competent staff, who work tirelessly to bring the Institute to its current enviable position. I look back at my early years as President and I am truly amazed at how far the Institute has come. I also wish to extend my heart felt gratitude to our wonderful members, who selflessly give their time, money and resources for the betterment of the Institute and who always show up en-masse to support and promote the cause of NICArb. I am immensely grateful.

Once again, I welcome everyone to this trend setting AGM. Together we shall brainstorm and come up with new and wonderful ideas on how to lift our Institute even higher and also benefit therefrom.

Thank you

Aare Afe Babalola, OFR, CON, SAN, FCARB, FNIALS, LLD
President/Chairman of the Governing Council.